DAQO New Energy Corp. (NYSE:DQ) Given Average Rating of “Moderate Buy” by Brokerages

Shares of DAQO New Energy Corp. (NYSE:DQ) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $25.8443.

A number of analysts recently weighed in on DQ shares. New Street Research set a $15.40 price target on shares of DAQO New Energy in a report on Thursday, September 18th. Wall Street Zen lowered shares of DAQO New Energy from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup raised their price target on shares of DAQO New Energy from $27.00 to $37.00 and gave the company a “buy” rating in a report on Monday, September 8th. The Goldman Sachs Group lowered shares of DAQO New Energy from a “neutral” rating to a “sell” rating in a report on Thursday, September 18th. Finally, HSBC raised shares of DAQO New Energy from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, August 27th.

Institutional Trading of DAQO New Energy

A number of institutional investors have recently bought and sold shares of the business. Continental General Insurance Co. grew its holdings in DAQO New Energy by 0.8% during the 1st quarter. Continental General Insurance Co. now owns 5,966,202 shares of the semiconductor company’s stock worth $108,048,000 after acquiring an additional 50,000 shares during the period. Mackenzie Financial Corp grew its holdings in DAQO New Energy by 1.4% during the 2nd quarter. Mackenzie Financial Corp now owns 1,866,454 shares of the semiconductor company’s stock worth $28,314,000 after acquiring an additional 26,100 shares during the period. Vanguard Group Inc. grew its holdings in DAQO New Energy by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,745,544 shares of the semiconductor company’s stock worth $31,612,000 after acquiring an additional 26,359 shares during the period. Goldman Sachs Group Inc. grew its holdings in DAQO New Energy by 117.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,159,835 shares of the semiconductor company’s stock worth $21,005,000 after acquiring an additional 625,900 shares during the period. Finally, Prudential PLC grew its holdings in DAQO New Energy by 11.8% during the 1st quarter. Prudential PLC now owns 849,471 shares of the semiconductor company’s stock worth $15,384,000 after acquiring an additional 89,431 shares during the period. Institutional investors and hedge funds own 47.22% of the company’s stock.

DAQO New Energy Trading Up 9.1%

NYSE DQ opened at $31.00 on Friday. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -5.31 and a beta of 0.50. The company has a 50 day moving average of $24.25 and a 200-day moving average of $18.58. DAQO New Energy has a 1-year low of $12.40 and a 1-year high of $31.21.

DAQO New Energy (NYSE:DQ) last issued its quarterly earnings results on Tuesday, August 26th. The semiconductor company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.02. The business had revenue of $75.19 million during the quarter, compared to analyst estimates of $140.54 million. DAQO New Energy had a negative net margin of 65.64% and a negative return on equity of 6.54%. On average, analysts forecast that DAQO New Energy will post -3.5 earnings per share for the current year.

DAQO New Energy announced that its board has approved a share repurchase program on Tuesday, August 26th that allows the company to buyback $0.00 in shares. This buyback authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

About DAQO New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.